I first heard about Kucoin Exchange in a facebook and Twitter and then I dug up their whitepaper. I will be honest with you, their bonus system looked like MLM. It did not make sense so I continued my research. Then it struck me. It makes sense. It’s Passive income exchange.

KuCoin is a cryptocurrency exchange based in Hong Kong, the exchange was launched in September 2017. The platform has its own token called KuCoin Shares (KCS), and there is a discount in trading fees when you trade using the kucoin token, the mode of operation of kucoin is just similar to that of Binance. But in kucoin its operation is based on a crypto to crypto basis, no fiat currency is supported in the exchange. Kucoin has the reputation of posting new coins first before it is listed on other leading cryptocurrency exchanges, on the website, there are lists of coins that are scheduled to be added to the platform soon.

Kucoin Exchange wants a more user-friendly platform than the other traditional cryptocurrency exchanges, shares 50%/of its trading fees with users, provide great customer care service via WeChat and have a heartwarming referral program that offers great rewards.

Reliability: Transaction security is guaranteed in kucoin, they make use of dynamic authentication, data encryption, and risk identification control to make sure finances are secured during transactions.

Fast: Conducting a transaction on the kucoin platform is extremely fast, your crypto will be added to your account within two minutes of your transactions, while withdrawals are a maximum of ten minutes to initiate and conclude.

Safe Wallet: Kucoin wallet is a very safe place to store your coin. It has multi-layer encryption, and also features a cold wallet which is impenetrable to any kind of attack, with vault like features due to its constant offline status

Customer Service: Kucoin prides itself on its top-notch customer service, offering a 24/7 customer service through WeChat. They claim that any customer care issue is resolved within in ten minutes.

Referral System: Kucoin has a generous referral system that offers 40% of the transaction fee of a new user to the person that invited them to the exchange.

Kucoin are raising the ratio of Kucoin Bonus from 10% to 50% to KCS holders, for example, user Robert holds 10000 KCS in his account on our exchange. Let’s say in December the average volume of kucoin entire exchange per day is 10000 BTC, according to current fee rate, the trading fee Kucoin collect per day is 20 BTC. So this user will get 20 * 50% * (10000/100000000) = 0.001 BTC per day, 0.03 BTC per month!

P.S. About the GAS reward ratio, please check out https://www.neotogas.com, this ratio depends on NEO blockchain and it changes every day.

Kucoin Exchange Development Plan and Timeline

There are lots of benefits for a trader who trades at kucoin, some of the features that make it awesome for trade include:

Lots of cryptocurrencies offered: Although a fairly new cryptocurrency exchange, kucoin already offer a wide variety of crypto coins to trade in, with over 80 coins on the platform with new ones constantly added

Mouthwatering promotions offered: A trader in the kucoin platform will enjoy a wide variety of promotions. If you trade in kucoin shares(KCS) you are rewarded 30% discount on trading fees, and traders in NEO are rewarded with GAS every day, also traders who have KCS in store are rewarded with a share in the 50% of trading fees that will be redistributed every day.

New cryptocurrencies: Kucoin is mostly known for posting new cryptocurrencies before it hits other traditional crypto exchanges, the website already talks about new cryptocurrencies to be added to the platform anytime from now.

Trading charges: Trading at kucoin is a good experience for traders because it charges a flat fee rate of 0.1% per trade, compared to 0.2% or 0.25% of other crypto exchanges.

Pros

Cons

• Effective Operations Strategy: Kucoin prides itself on its unique incentives program, they believe that incentives always drives up users enthusiasm and make the business more vibrant, they also say that the incentives program will be one of the major reasons they will achieve the aim of being among the top ten cryptocurrency exchange globally.

• High-Performance Engine: Kucoin trading engine can handle huge numbers of orders and transactions in a very short period of time, with the capacity of two million orders being handled every single second.

• Buybacks: Kucoin will buy back KCS using the profits of the 10% it makes from transaction fees, this buyback will go on until 100 million KCS have been purchased and ultimately destroyed.

• Does not support traditional fiat money: On KuCoin exchange, you cannot exchange your dollars for Ethereum or Bitcoin or KCS, and vice verse, which is a disadvantage to the new user who doesn’t possess any crypto assets yet and wants to exchange using money in his bank account. The only payments methods accepted in the KuCoin platform are cryptocurrencies transfers.

• Inadequate Information About The Company: KuCoin exchange is not regulated because the country doesn’t have enough legislation regarding such service providers yet. And the information about the owners of the platform is very limited, to say the least.

• Highly competitive market: KuCoin is a new player in an industry already saturated market for exchange that is dominated by few major crypto exchanges, it will take something special for KuCoin to be regarded as one of the major go-to exchanges for traders.

KuCoin Fee

There are different fees in KuCoin for different purposes, let’s take a look at the different fees in the KuCoin platform

Deposit Fee: This is the fee you’re charged for depositing a cryptocurrency into your kucoin account, it is free on the kucoin platform.

Trading Fee: You’re charged 0.1% of any trade conducted in the kucoin platform, which is the lowest in any cryptocurrency exchange.

Withdrawal fee: This is the fee charged for withdrawing your crypto from the kucoin account into your cryptocurrency wallet and it varies for different coins. For Bitcoin it is 0.0005 Bitcoin, 0.005 for Ethereum, it is 2 KCS for a withdrawal of kucoin shares, while it is free for some like NEO and GAS.

Conclusion

Kucoin is a newly launched cryptocurrency exchange with a long-term aim of becoming one of the top ten major exchanges globally. Its interface is friendly and easy to use, they also have a great marketing strategy of offering incentives to users of the platform which is a great way of attracting users.

It does not support fiat currency, only focuses on crypto to crypto trading, which makes it not the easiest platform for a newbie in the cryptocurrency world. Information about the owners and the company that created kucoin is limited, so not a lot is known about the founders.

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